Oma Savings Bank Launches EUR 50 Million Senior Bond Offering
Oma Savings Bank Launches New Senior-Term Bond Offering
In a significant move to bolster its financial foundations, Oma Savings Bank Plc has announced the issuance of an unsecured senior-term bond valued at EUR 50 million. This step is integral to the bank's ongoing bond program and reflects its commitment to securing robust funding solutions.
Details of the Bond Issuance
The newly issued bond will mature on 18 September 2026 and offers an appealing annual interest rate of 4.28%. With an ISIN code of FI4000581293, this bond serves as part of Oma Savings Bank’s overarching EUR 3 billion bond program, which has been thoroughly approved by the Finnish Financial Supervisory Authority (FIN-FSA).
Prospectus and Regulatory Approvals
The base prospectus for the bond was initially approved on 27 March, with subsequent supplements gaining approval on 24 May and 14 August. These critical regulatory steps ensure that the bond offering adheres to all necessary financial guidelines. Interested investors can find detailed documentation, including the final terms of the bond, on the bank’s investor relations webpage.
Going Public with Nasdaq Helsinki
To further enhance its market position, OmaSp plans to apply for the covered bond's admission to public trading on the Nasdaq Helsinki Ltd stock exchange. This move is expected to attract a wider array of investors, further solidifying the bank’s financial standing.
Key Partners in the Bond Offering
Oma Savings Bank Plc has engaged Danske Bank A/S as the sole lead manager for this bond issuance. Additionally, Borenius Attorneys Ltd will provide legal guidance throughout the process, ensuring compliance and transparency in all transactions.
The Role of Oma Savings Bank in the Financial Landscape
Known for its dedication to customer-centric financial services, OmaSp serves over 200,000 private and corporate customers through a network of 45 branch offices and comprehensive digital services. The bank aims to fulfill diverse banking needs, whether through its own balance sheet or by facilitating products from partners, such as credit and investment insurance.
Commitment to Quality Customer Service
A cornerstone of OmaSp’s operations is its commitment to delivering personal service. The bank strives to be a close-knit community partner, linking local values with modern banking needs. By focusing on premium customer experiences and accessibility, it ensures that both traditional and digital banking channels are user-friendly.
Investing in Staff Development
OmaSp emphasizes the importance of its personnel's professional growth, providing a range of opportunities for career development. This culture of growth is reflected in the high level of employee engagement, with many members of staff owning shares in the bank, directly linking their success to the overall performance of OmaSp.
Frequently Asked Questions
What is the total value of the new bond issued by OmaSp?
The total value of the new bond issued by Oma Savings Bank is EUR 50 million.
What is the maturity date of this bond?
The bond will mature on 18 September 2026.
Who is the lead manager for the bond offering?
Danske Bank A/S is the sole lead manager for the bond issuance.
How can investors find more information about the bond?
Investors can access more information, including the prospectus and final terms, on the OmaSp investor relations page.
What services does Oma Savings Bank offer?
Oma Savings Bank offers a range of services including retail banking, credit products, investment services, and insurance products to its clients.
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